Avis Reports $2.3B in Q2 Revenue

Photo via Depositphotos. 

Avis Budget Group reported second quarter revenues of $2.3 billion, which includes a negative impact of $46 million, or 2%, from currency exchange rate movements.

Second quarter revenues featured a 2% increase in rental days. Overall per-unit fleet costs improved 8% year-over-year. For the quarter, net income was $62 million, or $0.81 per diluted share. Adjusted EBITDA was $175 million and adjusted net income was $61 million, or $0.79 per diluted share.


Revenues in the quarter were up 2% compared to the prior year due to a 2% increase in rental days and a 1% increase in revenue per day. Per-unit fleet costs decreased by 10% as we continue to utilize alternative disposition channels to take advantage of strong residual values.

Adjusted EBITDA increased to $152 million and margin expanded to 9.3%.


Revenues in the quarter were 4% lower driven by a 6% impact from currency exchange movements. rental days increased 3%, partially offset by a 1% decrease in revenue per day, excluding exchange rate effects. Per-unit fleet costs were flat in the quarter, excluding exchange rate effects, while utilization improved 60 basis points.

This resulted in Adjusted EBITDA of $39 million for the quarter.

Originally posted on Auto Rental News

About the author
Staff Writer

Staff Writer


Our team of enterprising editors brings years of experience covering the fleet industry. We offer a deep understanding of trends and the ever-evolving landscapes we cover in fleet, trucking, and transportation.  

View Bio